What problem are you trying to solve?
We identified a real need for clarity, integrity and a more 21st century approach to Funeral Planning in the UK. We could not believe for example that there were only 1.2 million funeral plans written in a country with over 65 million people. Compare that to Holland where they have over 60% of the population taking out a plan and in Spain where over 20 million people have made provisions.
Why are we so far behind and is there an opportunity to address the problem with a quality solution?
We felt the need to bring our expertise and business acumen to the Funeral Planning marketplace here in the UK to try to make a change, a change for the better.
After a lot of work, our simple, uncomplicated OnePlan approach to Funeral Plans was then born. Developed as a direct response to feedback from consumers, various industry reports and media articles which highlighted that funeral plans are often regarded as confusing and potentially misleading, we felt that to lead with the strap line OnePlan helped provide clarity in a market littered with confusion.
How big is the market you operate in?
A report published by the Competition & Markets Authority in June 2018, “Funerals Market Study”, stated that the UK funerals market is estimated to be worth over £2 billion per
annum and has grown at an annual rate of 4.5% in the past five years. UK Funerals Online, an online service that helps people organise funerals, stated that there are currently over 600,000 funerals per annum in the UK.
What’s your business model?
The Directors believe that an exciting opportunity exists to establish a new company in a growing market. While the market for funeral plans is already established, they consider they should be able to market OnePlan to a broader spectrum of potential customers, sue to its clear, simple and honest approach.
A customer will acquire a OnePlan funeral plan for a fixed cost paid up front. The benefits of this plan are detailed below, however, in simple terms, the Directors believe it offers the best funeral plan available in the UK market. From the fixed fee cost received, W&F pays introducer commissions and retains a sum to cover its running costs.
W&F then remits circa 80% of the fixed cost to the Signature Funeral Plan Trust (“the Trust”), which holds the customer’s funds until their death. As a result of contracts with funeral partners, W&F can provide a funeral and a sum to cover third party costs bringing the total cost of a funeral to £3,700 (index linked). There are surplus funds on deposit to ensure all costs can be met.
What’s your investment pitch?
The initial aim is to provide a simple to understand solution to the Funeral Planning sector with OnePlan as our flagship product. Thought and care has gone into the development of OnePlan , it fits the bill perfectly as a product that does what it says on the tin. Fairer Finance stated that one of the many downsides to our competitors was their selling of a myriad of different plans with different parts to them that caused client confusion and in many cases miss selling. Why OnePlan ? we were asked , well OnePlan is all you are ever going to need.
A simple product and answer to an industry problem, and solved easily by making it clear to clients what they are getting for their money, a funeral paid for today for any time in the future.
With prudent investment by industry leaders Baillie Gifford the company can benefit from super profits which will give a healthy return on a growing fund as the years go on.
As the fund grows, so would its`worth to a UK Fund Manager .This would make a profitable exit / sale which would filter down to investors. We estimate the return may be as high as 15 times EBITDA.
An excellent proposition in an emerging sector and importantly a professional team driving a professional business, investment in Wren & Fraser would be the best move you could make in these unprecedented times.
If you are interested in investing in Wren & Fraser, please register at www.kickstart.capital now. This can be done without any obligation and will allow you to review full details on the investment opportunity.
Wren & Fraser qualifies for SEIS and EIS tax relief – meaning UK based investors will receive income tax relief at 50% or 30% respectively as well as other valuable tax benefits. An informative guide on EIS and SEIS and the tax reliefs available is available to individuals that register at www.kickstart.capital for a limited time.
See also FinOptix which has a compelling business model and range of solutions that address an urgent unserved need in a huge market.
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